UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ____________ Commission file number 000-27548 LIGHTPATH TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) (State or other jur ...

LightPath Technologies, Inc. (NASDAQ:LPTH) Q2 2023 Earnings Conference Call February 9, 2023 5:00 PM ET Company Participants Sam Rubin - President and Chief Executive Officer Albert Miranda - Chief Financial Officer Conference Call Participants Scott Buck - H.C. Wainwright Aaron Martin - AIGH Investment Partners Gene Inger - ingerletter.com Operator Good afternoon, and welcome to the LightPath Technologies Fiscal 2023 Second Quarter Financial Results Conference Call. [Operator Instructions] Please note this ...

Financial Performance - For the three months ended December 31, 2022, net revenue was $8,472,679, a decrease of 8.3% compared to $9,243,174 for the same period in 2021[17]. - The company reported a net loss of $(694,061) for the three months ended December 31, 2022, compared to a net loss of $(1,055,291) for the same period in 2021[17]. - For the six months ended December 31, 2022, the net loss was $2,074,761, compared to a net loss of $1,687,388 for the same period in 2021, indicating an increase in losses of approximately 23%[21]. - Revenue for Q2 fiscal 2023 was approximately $8.5 million, a decrease of 8% compared to $9.2 million in Q2 fiscal 2022, primarily due to lower sales of infrared products[111]. - Net loss for the second quarter of fiscal 2023 was approximately $694,000, or $0.03 per share, compared to a net loss of $1.1 million, or $0.04 per share, in the same quarter last year[129]. Revenue Breakdown - Revenue from precision molded optics (PMO) for the six months ended December 31, 2022, was $7,149,182, down 5.6% from $7,575,447 in the same period of 2021[32]. - Revenue from infrared products for the three months ended December 31, 2022, was $4,024,591, a decline of 20.7% compared to $5,075,168 in the same period of 2021[32]. - PMO product revenue in Q2 fiscal 2023 was approximately $3.9 million, an increase of 3% from $3.8 million in Q2 fiscal 2022, driven by sales to defense, industrial, and medical customers[113]. - Revenue from infrared products in the first half of fiscal 2023 was approximately $7.7 million, a decrease of 23% from $9.9 million in the same period of fiscal 2022, mainly due to timing of sales against a large annual contract[116]. - Specialty products revenue increased by 27% to approximately $1.0 million in the first half of fiscal 2023, up from $808,000 in the prior year[119]. Expenses and Costs - Operating loss for the three months ended December 31, 2022, was $(556,484), an improvement from $(980,383) in the prior year[17]. - Total cost of sales for the first half of fiscal 2023 was approximately $10.4 million, down from $12.4 million in the same period last year[121]. - SG&A costs for the second quarter of fiscal 2023 were approximately $3.0 million, an increase of 3% from $2.9 million in the same period last year[122]. - New product development costs for the second quarter of fiscal 2023 were approximately $466,000, a decrease of 16% from the prior year[125]. Assets and Liabilities - Total current assets decreased to $16,159,196 as of December 31, 2022, down from $18,169,414 as of June 30, 2022[14]. - Total liabilities decreased to $18,772,264 as of December 31, 2022, compared to $20,982,683 as of June 30, 2022[15]. - Cash and cash equivalents were $3,793,852 as of December 31, 2022, down from $5,507,891 as of June 30, 2022[14]. - The outstanding balance on the BankUnited Term Loan was approximately $3.6 million as of December 31, 2022[137]. Tax and Compliance - The effective income tax rate for the three months ended December 31, 2022, was -9%, compared to -3% for the same period in 2021, indicating a worsening tax position[38]. - The company has accrued approximately $40,000 in unpaid withholding taxes as of December 31, 2022, related to intercompany dividends[43]. - The U.S. federal and state statutory income tax rate is estimated to be 25.5%, with no additional tax expense expected on pre-tax income or losses generated in the U.S.[41]. Operational Challenges - The company anticipates continued challenges due to inflation and supply chain disruptions impacting future operations[12]. - The ongoing Russian-Ukraine conflict has created economic disruption, impacting the company's customers and suppliers, with uncertain future effects[89]. - Economic conditions in China have negatively impacted sales across all industries served, particularly affecting PMO product sales[113]. Cash Flow and Financing - Cash used in operations for the first half of fiscal 2023 was approximately $752,000, a significant increase from approximately $157,000 in the same period of the prior fiscal year[142]. - Cash paid for operating leases was $523,157 for the six months ended December 31, 2022, compared to $448,485 for the same period in 2021, an increase of 16.7%[63]. - The company raised approximately $9.2 million in net proceeds from a public offering of Class A common stock in January 2023[140]. Future Projections - Total backlog at December 31, 2022, was approximately $29.4 million, representing a 34% increase compared to $21.9 million as of December 31, 2021, and a 66% increase from the end of fiscal 2022[154]. - Future amortization of identifiable intangibles is projected to be $562,541 for the fiscal year ending June 30, 2023, and $1,125,083 for the fiscal year ending June 30, 2024[37]. - The company does not expect to need additional equity capital for the foreseeable future following a recent equity raise, but may require funds for acquisitions or strategic transactions[95]. Management and Strategy - The company is focusing on developing partnerships for optical solutions, leveraging its expertise in optics to provide comprehensive value propositions to customers[107]. - Management uses non-GAAP financial measures to assess business performance and make operational decisions, acknowledging their limitations[169].

Financial Data and Key Metrics Changes - Revenue for the first fiscal quarter was $7.4 million, down from $9.1 million in the same period last year [23] - Net loss for the first quarter was approximately $1.4 million, compared to a loss of $632,000 in the prior year [29] - Gross margin was approximately $2.2 million, representing 30% of revenue, down from 35% year-over-year [27] Business Line Data and Key Metrics Changes - Revenue from infrared products was $3.6 million, accounting for 49% of total revenue, a decrease primarily due to sales declines in the China industrial market [23] - PMO products generated $3.3 million, down from $3.8 million, attributed to decreased sales through catalog and distribution channels [24] - Specialty Products revenue increased to $0.5 million from $0.4 million, driven by non-recurring charges [25] Market Data and Key Metrics Changes - Sales in China represented approximately 13% of total revenue, down from about 30% in fiscal 2022 [10] - The backlog at the end of the first quarter was $23 million, indicating strong future revenue potential [15] Company Strategy and Development Direction - The company is transitioning from a components manufacturer to a provider of optical solutions, focusing on infrared optics and engineered solutions [11][12] - The introduction of Black Diamond glass is a key part of this strategy, with applications in multi-spectral imaging and reduced dependence on traditional materials sourced from China and Russia [13] - The company is actively collaborating with government agencies and customers to advance new materials and solutions [14] Management's Comments on Operating Environment and Future Outlook - Management acknowledged multiple headwinds, including Hurricane Ian, a slowdown in China, and geopolitical tensions affecting operations [8] - Despite challenges, management remains optimistic about growth prospects, particularly in defense and aerospace sectors [19][35] - The company expects the first quarter's performance to be an anomaly, with a strong backlog indicating potential recovery [34] Other Important Information - Cash used in operations was approximately $415,000 for the first three months, a decrease from $1.6 million in the same period last year [31] - The company has a working capital of approximately $9.2 million and total cash and cash equivalents of about $4.3 million [30] Q&A Session Summary Question: Details on exiting the distribution partner in Europe - Management explained that the exit was part of a strategic shift to direct sales, which has resulted in increased sales and margins [41][42] Question: Clarification on revenue impact from the distributor exit - Management clarified that while catalog sales decreased, direct sales in defense and commercial sectors have increased, leading to overall growth [44] Question: Timing and definition of "game changer" products - Management indicated that potential game-changing products could scale to $5 million to $10 million in annual revenue within two to three years [48] Question: Impact of BD6 material on business - Management emphasized the strategic importance of BD6, particularly in reducing dependence on germanium, with ongoing government support for its qualification [51][52] Question: Future growth potential and scaling - Management expressed confidence in the company's ability to grow independently, supported by government commitments and strategic alignment with defense priorities [67][68]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ____________ Commission file number 000-27548 2603 Challenger Tech Ct. Suite 100 Orlando, Florida 32826 (Address of principal executive offices) ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ___________________________ LIGHTPATH TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) ___________________________ Delaware 86-0708398 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No) (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2022 OR ☐ TRANSITION REPORT PURSUANT T ...

LightPath Technologies, Inc. Q4 2022 Earnings Conference Call September 14, 2022 5:00 PM ET Company Participants Albert Miranda - Chief Financial Officer Sam Rubin - President and Chief Executive Officer Conference Call Participants Brian Kinstlinger - Alliance Global Partners Gene Inger - ingerletter.com Operator Good afternoon. And welcome to the LightPath Technologies Fiscal 2022 Fourth Quarter Financial Results Conference Call. All participants’ will be in listen-only mode. [Operator Instructions] Plea ...

Financial Data and Key Metrics Changes - Revenue for Q3 fiscal 2022 was $8.3 million, down from $10.7 million in the same period last year [28] - Gross margin was approximately $3 million, compared to $3.9 million in the prior year, with a gross margin percentage of 37% for Q3 fiscal 2022, slightly up from 36% [34] - Net loss for Q3 fiscal 2022 was approximately $495,000, or $0.02 per share, compared to a loss of $223,000, or $0.01 per share, in Q3 fiscal 2021 [37] - EBITDA for Q3 fiscal 2022 was approximately $647,000, down from $1.1 million in the same period last year [38] Business Line Data and Key Metrics Changes - Sales of infrared products were $3.7 million, accounting for 45% of consolidated revenue, while PMO products generated $4 million, or 48% of revenue [28] - Revenue from specialty products was $547,000, or 7% of total revenue [28] - PMO sales increased by 3% compared to the same quarter last year, driven by improvements in China and other telecommunications customers [29] Market Data and Key Metrics Changes - Revenue from China for the first three quarters has been recovering, but year-to-date revenue in China is down by $5.1 million compared to last year [30] - Outside of China, primarily in the U.S. and Europe, sales increased by 8% or $1.6 million [30] Company Strategy and Development Direction - The company is transitioning from being a component provider to focusing on engineered optical solutions, integrating optics, mechanics, electronics, and software [11] - The strategy emphasizes owning critical technologies to capture value in growing markets, particularly in infrared imaging and engineered solutions [15] - The company is positioning itself as a leading OEM globally, leveraging its design and manufacturing expertise [12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the recovery in China and the potential for growth in engineered solutions and infrared imaging [30][31] - The geopolitical situation has reinforced the company's strategy and highlighted the importance of developing a resilient supply chain in the U.S. [15] - Management noted that the adoption of photonics is accelerating across various industries, providing diversification opportunities [9] Other Important Information - The company has renegotiated its term loan with Bank United, extending it until April 2024, which strengthens its refinancing capabilities [40] - Total backlog as of March 31, 2022, was approximately $19.7 million, a slight increase from the previous year [40] Q&A Session Summary Question: Did unit profits drop for both PMO and infrared? - Management confirmed that unit profits fluctuate based on product mix, with larger customers in China returning, which tend to have lower unit prices [44] Question: Is the company undervalued based on growth potential? - Management agreed that the company is undervalued and attractive for investment, noting that they are not actively shopping the company but are open to options [47] Question: Will the company focus more on domestic operations rather than China? - Management indicated a shift in investment focus away from China, while still recognizing its importance as a cash generator [49] Question: What is the timeline for new licenses with the Navy and free form optics? - Management anticipates that the first materials from Navy licensing may be released in the next few months, while free form optics are already being adopted by customers [51][53] Question: Is the company involved in low orbiting satellites and laser interception systems? - Management confirmed involvement in multiple projects related to low orbiting satellites and noted significant growth in business with Israel [55][58]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ____________ Commission file number 000-27548 LIGHTPATH TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) (State or other jur ...

LightPath Technologies, Inc. (NASDAQ:LPTH) Q2 2022 Earnings Conference Call February 10, 2022 5:00 PM ET Company Participants Al Miranda – Chief Financial Officer Sam Rubin – President and Chief Executive Officer Conference Call Participants Brian Kinstlinger – Alliance Global Partners Dave King – B. Riley FBR Scott Buck – H.C. Wainwright Orin Hirschman – AIGH Investment Partners Operator Good afternoon everyone, and welcome to the LightPath Technologies Fiscal 2022 Second Quarter Financial Results Conferen ...